Edit ModuleShow Tags

Ample Stocks Restrain European Gas Prices

Imports also keeping pressure on natgas prices


Published:

The U.S. Energy Information Administration (EIA) reported that natural gas prices at the United Kingdom’s National Balancing Point (NBP) trading hub were US$7.50/MMBtu in late May, a sustained low not seen since late 2010.

EIA said European gas storage levels were low heading into the 2013-14 winter but mostly recovered to normal levels by the beginning of 2014. Then Europe experienced an unusually warm winter.

Austria had its second-warmest winter on record in 247 years. Germany, the largest consumer of natural gas in Europe, had its fourth-warmest winter on record since 1881. The United Kingdom experienced its fifth warmest since 1981.

As a result, European gas storage at the end of March (the end of the withdrawal season) was 45% full out of a total capacity of 2.7 Tcf (76 x 106 m3), compared to 24% in 2013 and a 40% average for the past four years.

EIA said imports also are applying pressure on prices. Pipeline shipments from Russia have continued without interruption and mild weather in Asia has pushed more liquefied natural gas spot cargoes into Europe.

Edit ModuleShow Tags

Archive »Recent Articles

Opcon Selling Compressor, Waste Heat Business

Opcon AB, the energy and environmental technology group, has signed a Memorandum of Understanding (MoU) to sell part of its compressor technology and waste heat recovery business.

St. Clair Compressor Station Gets Upgrade

Consumers Energy is looking to improve the St. Clair Compressor Station, Ira Township, Michigan, with a US$165 million upgrade.

Capstone Microturbines To Power Two New Shale Compressor Stations

Capstone Turbine received orders from E-Finity Distributed Generation for microturbines to be used for oil and gas operations in the Marcellus and Utica Shale regions.

DCL Nets PICA As New Distributor

DCL America Inc. has added a new distributor for its Northeastern United States - Power Ignition and Controls Appalachia (PICA).

Caterpillar Releases Valves, Seats For Pressure Pumping Customers

Caterpillar has released its Cat valves and seats for well stimulation pump fluid ends. Cat 4- and 5-series valves and seats are designed to maximize interchangeability across the Cat well stimulation fluid end line and be dimensionally compatible with industry standard fluid ends in the 2000 to 3000 hp (1491 to 2237 kW) range. Fluid end valves and seats are highly-consumed parts in well stimulation operations and, as a result, are frequently replaced. Historically, Caterpillar uses valves and seats obtained from alternate sources. Caterpillar’s new fluid end valves and seats provide decreased wear and extended life to pressure pumping customers, the company said. The material life of the fluid ends is extended by optimizing the geometry of the Cat valve and seat, increasing the contact area and improving the distribution of forces, resulting in reduced material fatigue, Cat said. The flow area is increased by balancing the pressure drop across the Cat valves, reducing flow restrictions and the potential for cavitation. Additionally, impact forces are reduced as the contact area between valve and seat has nearly doubled from previous designs. Caterpillar manufacturers a line of pressure pumps with maximum inputs ranging from 600 to 3000 bhp (447 to 2237 kW). The new valves and seats can be ordered from the global Cat dealer network.